For his innovative use of tax credits, and commitment to utilizing historic structures.

Rees was the first developer in North Carolina to apply the federal and state tax credits in a pass-through structure that allowed the buyer of the property to benefit from the tax credit.  Rees successfully sold out both Renfro Lofts in Mount Airy and Key City Condominiums in North Wilkesboro at completion of construction, creating residential condominium developments that are predominately owner-occupied.  The combined tax base on these properties totals over $14 million. 

Rees continues to creatively utilize historic properties.  He and his family members own the largest number of properties in the Historic District of Mount Airy.   His retail clothing's stores on the corner of Main and Moore Avenue have been an anchor for retail sales in the District for over 50 years.  All properties are in good repair, helping set high standards for other property owners in the district. 

He has also successfully used tax credits for two major renovation projects in the District:  The Smith Building and Market Street.  The Smith Building, a three-story structure built in 1880, will complete renovation in 2011, and be leased to an antique store and a music studio.

The name Gene Rees is synonymous with the highest standards of excellence in Historic Preservation, and his signature work is a mark of excellence not only in Mt. Airy and Surry County but throughout North Carolina.  Through his leadership and encouragement, historic projects have been completed in Statesville, Charlotte, and North Wilkesboro.
Perhaps his most outstanding characteristic is his ability to share with and teach others his systematic mathematical way of turning an idea into a realistic project using best practices of development and highest ethical standards of accounting.

Gene is most deserving of the Lowe Award for his vision, inspiration to others, and commitment to Historic Preservation.